## ## |||||Pages| |---|---|---|---|---| |Trustees'
report (including||the strategic|report)|1-7| |Independent|auditor's
report|||8-11| |Consolidated|statement
of|financial activities||| |(incorporating|income and|expenditure|account)|12| |Consolidated|balance sheet|||13| |Company
balance sheet||||14| |Consolidated|statement
of|cash flows||15| |Notes to the|financial statements|||16-30| ## ## ## |||||ANNUAL TRUSTEES' REPORTI CONTINUED)|ANNUAL TRUSTEES' REPORTI CONTINUED)|ANNUAL TRUSTEES' REPORTI CONTINUED)|ANNUAL TRUSTEES' REPORTI CONTINUED)||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||(INCLUDING
THE STRATEGIC REPORT)|||||||||||| |||||FOR THEYEAR ENDED 31 MARCH||2023|||||||||| |REFERENCE AND ADMINISTRATIVE DETAILS|||||||||||||||| |FOR THE|CHARITABLE COMPANY, ITSTRUSTEES AND ADVISERS|||||(continued)|||||||||| |Objects ofCharitable
Company||||The Objects of the Trust are for the public benefit:
(both
traditional
and
modern),
institutions,
people,||||||a) to advance
history,
and||the culture
language
of|||| |||||Japan, and also of Japan's
intellectual,|||artistic, scientific and economic||||||life;||b)| |||||to promote
cultural
relationships|between|||people|in|Japan|and people||in|the|| |||||United
Kingdom;
c) to promote|learning|||and advance
all forms||||of education|||| |||||relating
to Japan; d) to promote|research|||in any of|the above; e) to publish|||||the|| |||||useful results of such research|and f) the furtherance|||||ofsuch other exclusively|||||| |||||charitable objects as the Trustees||in their||absolute|discretion||may|determine.|||| |Solicitors||||Farrer &Co LLP|||||||||||| |||||66 Lincoln's
Inn Fields|||||||||||| |||||London WC2A 3LH|||||||||||| |Bankers||||HSBC UK Bank Pic|||||||||||| |||||94 Kensington
High Street|||||||||||| |||||London W8 4SH|||||||||||| |Auditor||||Rawlinson
& Hunter Audit LLP|||||||||||| |||||Statutory Auditor|||||||||||| |||||Chartered
Accountants|||||||||||| |||||Eighth Floor, 6 New Street Square,|||||||||||| |||||New Fetter Lane, London EC4A 3AQ|||||||||||| |Charitable|Company||||||||||||||| |Address &Registered|||office|Japan House London|||||||||||| |||||101 —111Kensington
High Street|||||||||||| |||||London W8 5SA|||||||||||| |Charity Registration||Number||1179626|||||||||||| |Company|Registration||Number|11491073|||||||||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||Unrestricted|Total|Total| |---|---|---|---|---| |||Funds|Funds|Funds| |||||(Aff| |||||unrestricted)| ||Note|2023f|2023|2022| |INCOME FROM:
Other trading
actwities|3.1|9,959,991|9,959,991|12327,901| |TOTAL INCOME||9,959991|9959991|12327,901| |EXPENDITURE ON:||||| |Cost ofother trading
activities
Charitable
activities|6
4|9,422,444
40,350|9,422,444
4D 35D|10,727,460
35 715| |TOTAL EXPENDITURE|6|9462 794|9. 62794|70 763 175| |Net Income before Taxation||497,197|497,197|1,564,726| |TAX (CHARGE)/CREDIT|9|~39,534|39534|1352895| |NET INCOME BEFORE OTHER
RECOGNISED GAINS AND LOSSES||~57663|457663|211831| |NET MOVEMENT
IN FUNDS||57663|7683|211,831| |RECONCILIATION
OF FUNDS:||||| |Total funds brought
forward
TOTAL FUNDS CARRIED FORWARD||2990195
3947848|299D195
3447848|27 8354
2990185| ## ||||CONSOLIDATED
BALANCE|CONSOLIDATED
BALANCE|SHEET||| |---|---|---|---|---|---|---|---| |||||AT 31 MARCH 2023|||| |||||Registered
number: 11491073|||| |||||Charity number: 1179626|||| ||||||31 March||31March| ||||||2023||2022| ||||Note||||| |FIXEDASSETS|||||||| |Intangible assets
Tangible assets|||10,11
12|151,181
200,727|351,908|257,983
227889|485,872| |CURRENT ASSETS|||||||| |Stock|||13|206,676||173,269|| |Debtors|||14|2,531,456||2,597, 727|| |Cash at bank and in|hand||15|7 874464||5 896836|| |||||10,612,596||8,667,832|| |CREDITORS: amounts
falling due
within one year
NET CURRENT ASSETS|||16|5,018,058|5,594,538|3703,5'l9|4,964,313| |TOTAL ASSETSLESS|||||||| |CURRENT LIABILITIES|||||5,946,446||5,450, 185| |CREDITORS: amounts||falling due|||||| |after more than one|year||17||(1,550,000)||(1,550,000)| |PROVISIONS FOR|LIABILITIES||||||| |Other provisions|||20||948,598||10,000| |NET ASSETS|||||3,447,848||2990,185| |CHARITY FUNDS
Unrestricted
funds|||||3l47,848||2990,185| |SHAREHOLDERS'
CHARITY'S FUNDS|AND||||3l47 848||2999 185| ## |||||CHARITABLE COMPANY BALANCE SHEET|CHARITABLE COMPANY BALANCE SHEET|CHARITABLE COMPANY BALANCE SHEET|CHARITABLE COMPANY BALANCE SHEET|CHARITABLE COMPANY BALANCE SHEET|CHARITABLE COMPANY BALANCE SHEET||| |---|---|---|---|---|---|---|---|---|---|---|---| |||||||AT 31|MARCH|2023|||| ||||||Registered||number:|11491073|||| |||||||Charity|number:|1179626|||| ||||||||||31 March||31 March| ||||||Note||||2023f||2022f| |FIXEDASSETS|||||||||||| |Investments|||||24||||||| |CURRENT ASSETS|||||||||||| |Debtors|||||14||7,921|||17,990|| |Cash at bank|and
in|hand|||15||831,363||791,607||| ||||||||839,284||809,797||| |CURRENT LIABILITIES|||||||||||| |Creditors - amounts
one year||falling due within|||16|~11.820||||41982|| |NET CURRENT ASSETS|||||||||827,464||767,615| |TOTAL ASSETS LESSCURRENT|||||||||827,465||767,816| |LIABILITIES|||||||||||| |TOTAL NET|ASSETS||||||||821465||161816| |THE FUNDS|OF THE CHARITABLE||||||||||| |COMPANY|||||||||||| |Unrestricted|income|fund|||||||827,465||767,816| |TOTAL CHARITABLE COMPANY|||||||||||| |FUNDS|||||||||821465||767,616| |The Charitable|Company||has|taken advantage||ofthe exemption||allowed|under section 408|ofthe Companies|Act 2006| |and has not presented||its|own|Statement|of Financial
Activities|||in these financial statements.|||| ## ## ||||2023|2022| |---|---|---|---|---| |||Note|F|| |CASH FLOW FROM OPERATING|ACTIVITIES:|||| |Net movement
in funds|||457,663|211,831| |ADJUSTMENT FOR:||||| |Depreciation
oftangible assets
Amortisation
of intangible
assets
Tax charge
(Increase)/decrease
in stock
Decrease
in debtors||12
10,11
9
13
14|46,573
106,802
39,534
(33,407)
66,271|2,316,937
102517
1,352,895
110,250
1,221,337| |Increase/(decrease)
in creditors
Increase
in provisions
Tax paid||16
20
9|1,492,004
38,598
(145,591)|(3,784,368)
33,885| |NET CASH GENERATED FROM OPERATING||||| |ACTIVTIES|||2068447|1565,284| |CASH FLOW FROM INVESTING|ACTIVITIES:|||| |Additions
of intangible
assets
Purchases
offixed assets||10
12|19411|(34,285)
224 0/5| |NET CASH USED IN INVESTING|ACTIVITIES||19,411|258301| |CASH FLOW FROM FINANCING|ACTIVITIES:|||| |Decrease
in other loans||16|71408|5924| |NET CASH USED IN FINANCING|ACTIVITIES||1408|5924| |CHANGE
IN CASH AND CASH EQUIVALANTS||||| |IN THE YEAR|||1,977,628|1,231,059| |Cash and cash equivalents
brought|forward||5896836|4,665,777| |CASH AND CASH EQUIVALENT
FORWARD|CARRIED|15|7874464|5896,836| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |n analysis ofturnover
by class ofbusine|ss
is as follows:||| |---|---|---|---| |||2023|2022| |Rental income on concession agreements
Release of deferred
income —rent received|in advance|124,001|124,001
1,858,826| |Release offixed asset grant income
Japan House membership
income
Income from arrangement
with MOFA (note
Other Income|23)|242,125
7,881,671
261,934|2,076,486
171,229
6,926,044
266,140| |Income from sales in the Shop||1450260
9 959,991|905,175
12327901| ## ## ## ||||||Unrestricted|Total Funds|Total Funds| |---|---|---|---|---|---|---|---| ||||||Funds 2023|2023|2022| ||||||6|6|| |Grants|made||||29,000|29,000|| |Support|costs|—governance|(Note|5)|11350|11300|35715| ||||||40,350|40,350|35,715| ## ## |arent|Company|||| |---|---|---|---|---| ||||Total Funds|Total Funds| ||||2023|2022| ||||6|| |Bank
Legal
Audit
Total|charges
and professional
fee
(Note 4)|related costs|60
2,468
8 022
11350|101
22,433
13,181
35,715| ## ## ## ## |roup||| |---|---|---| ||2023|2022| ||6|5| |Other trading
activities|9422444
9422 444|10,727460
10727460| |Charitable
Activities (Note 4)
Total Expenditure|4D 355
9462,394|35715
0 63425| ## ## |UDITORS' REMUNERATION||| |---|---|---| ||2023|2022f| |Fees payable tothe Charitable
Company's
auditor and its subsidianes
in respect ofAudit-related
assurance
services|45950
40 DDD|30000
30000| ## |The average|monthly|number|of employees,|of employees,|induding|induding|the directors,|during|the year was as follows:|| |---|---|---|---|---|---|---|---|---|---|---| ||||||||||2023|2022| |Employees|including|directors who have employment|||||contracts||71|71| |Staff costs,|including|key management||personnel,||were as follows:||||| ||||||||||2023|2022| ||||||||||6|| |Wages and salaries
Social security costs
Cost of defined contribution|||scheme|(Note|21)||||2,567,986
247,919
70534
2896349|2052,168
207,564
61433
232
265| ## |9.|TAXATION|||||| |---|---|---|---|---|---|---| ||||||Group|Group| ||||||Year ended|Year ended| ||||||31.03.2023|31.03.2022| ||||||6|5| ||Corporation
tax
Current tax charge on profits for the year
Adjustments
in respect of previous
periods
Total current tax|||59,698
~29184
39,534||121,273
121273| ||Deferred tax asset|||||| ||Adjustments
in respect of previous
Total deferred tax asset|periods||||1,231622
1231,622| ||Tax charge on profit on ordinary|activities|||39,534|1,352895| ||Factors affecting tax charge for the year|||||| ||The tax assessed for the year is lower than (2022:higher than) the standard||||rate ofcorporation|tax in the UK of| ||19%(2022: 19%9)as set out below:|||||| ||||||Group|Group| ||||||Year ended|Year ended| ||||||31.03.2023|31.03.2022| ||||||5|5| ||Profit on ordinary
activities before tax||||97 198|1564 726| ||Profit on ordinary
activities
multiplied
in the UK of 19%|by standard|rate ofcorporation|tax|94,468|297,296| ||Effects of:|||||| ||Fixed asset differences||||2,005|152,887| ||Expenses not deductible
for tax purposes
Non-taxable
income||||14,718|21,501
(394,532)| ||Other adjustments
Adjustment
totax charge in respect of previous
Adjustment
totax charge in respect of previous
Excess ofcapital allowance
over depreciation
Unrelieved
tax losses carried forward||penods —deferred tax
penod —current tax||7,737
I20,164)
I59,894)
664|44,119
1,231,622| ||Tots Itax charge forthe year||||39534|1352895| ||Factors that may affect future tax|charges||||| ## ## |NTANGIBLE FIXEDASSETS|| |---|---| |Group|Website| ||developmentf| |Cost|| |At 1 April 2022|34,285| |Additions|| |At 31 March 2023|34,285| |Amortisation|| |At 1 April 2022
Charge for the period
At 31 March 2022|2,143
6,428
8,571| |Net Book Value|| |At 31 March 2023|25714| |At 31March 2022|32 142| ## ## |Cost|| |---|---| |At 1 April 2022
At 31 March 2023|591 869
5D1.869| |Amortisatlon|| |At 1 April 2022
Charge for the period
At 31 March 2022|276,028
1DD374
3764D2| |Net Book Value|| |At 31 March 2023|125,467| |At 31March 2022|225,841| ## ## ## ||Group||||||| |---|---|---|---|---|---|---|---| |||Short-term|leasehold||Fixture and||Total| |||improvements|||fittings||| ||Cost or valuation
At 1 April 2022
Additions||8,739,970||269,844
19,411|9,009,814
19,411|| ||At 31 March 2023||8,739970||289,255|9,029225|| ||Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023||8,739,970
8739970||41,955
46 573
88,528|8,781,925
46573
8828498|| ||Net book value||||||| ||At 31 March 2023||||200 727||200 727| ||A131 March
2022||||227669||227 680| |13.|STOCK||||||| |||Group|||Parent|Company|| |||2023||2022|2023||2022| |||||5||5|5| ||Finished goods and goods for
resale|206676||173269|||| |||206,676||173269|||| |14.|DEBTORS||||||| ||Due after more than one year:||||||| |||Group|||Parent|Company|| |||2023f||2022f|2023
8||2022
f| ||Rent deposit (Note 22)|1 565179
1 565,1JS|1
1|550000
550,000|||| ## ## ## |Due within on|e year:|||||| |---|---|---|---|---|---|---| ||||Group||Parent Company|| ||||2023f|2022
Z|2023
f|2022| |Trade debtors
Other debtors|||99,654
33,383|51,655
353,047|7,921|17,990| |Prepayments
income|&Accrued||539,886|431,030||| |Corporation
tax
VAT repayable|||85,528
2D7826
966277|191995
1,047 727|7921|17990| |Total Debtors|||2.531456|25977|7921|17990| |ASH AND CASH EQUIVALENTS||||||| ||||Group||Parent Company|| ||||2023
f|2022
f|2023
f.|2022
f| |Cash at bank|||7,874,464|5,896,836|831,363|791,807| ||||7,874,464|5,896,836|831,363|791,807| |REDITORS:|AMOUNTS|FALLING|DUE WITHIN ONE|YEAR||| ||||Group||Parent Company|| ||||2023|2022f|2023
f|2022
f| |Otherloans||||71,408||| |Trade creditors|||124,222|173,377|3,820|15,455| |Corporation
tax
Other creditors
Accruals|||15,216
4,499,973
153,571|121,273
3,056,838
106,957|8,000|21,527
5,000| |Deferred Income|||182,191|173,666||| |VAT payable|||42 885
5D18058|3703519|11,820|41,962| ## ## ## ## ## |REDITORS: AMOUNTS
|FALLING AFTER IIIIORE THA|N ONE YEAR||| |---|---|---|---|---| ||Group
2023|2022f|Parent Company
2023|2022f| |Otherloans||||| |Other creditors|1 55D,DDD|1,550,000||| ||1 550 DDD|1,550,000||| ## ## ## ## |EFERR|ED TAXATION|||||| |---|---|---|---|---|---|---| ||||||Group|Group| ||||||2023f|2022f| |At start|ofthe year|||||1,231,622| |Charged|to the Consohdated|Statement|of Financial|Activities||1,231,622| |At end|ofyear|||||| ## ## ## ## ## ## ## |COMIIIIITNIENTS
UND|COMIIIIITNIENTS
UND|ER OPERATING|LEASES||||| |---|---|---|---|---|---|---|---| |At 31 March 2023 the||Group had future|minimum
lease|payments
due under|non-cancellable|operating|leases| |for each ofthe|following|periods:|||||| ||||Group||Parent Company||| ||||2023
8|2022|2023
f||2022| |Not later than|1 year||1,670,747|1,668,206|||| |Later than
1 year but
than 5years||not later|5,012,240
6,682,987|6,672,824
8,341,030|||| ## ## ## ## |UBSIDIARIES|UBSIDIARIES|||||| |---|---|---|---|---|---|---| |Company
Name||Country of
incorporation|Class of
shares|Holdings|Aggregate
of
share capital
and reserves|Profitforthe
year ended 31
Nlarch 2023| |Japan|H.L.|UK (England 3|Ordinary|100%|2,327,821|356,212| |Limited,|parent|Wales)||||| |of||||||| |Japan|H.L.|UK (England 8|Ordinary|100%|167,195|142,175| |Enterpnses||Wales)||||| |Limited||||||| ## ##